Business
Tenaris S A : announces $300 million CAD investment to strengthen its Sault Ste Marie industrial centre
Tenaris S A : announces $300 million CAD investment to strengthen its Sault Ste Marie industrial
About this update from Tenaris S.a.
Share PUBLISHED ON 05/22/2026 Tenaris has announced on Friday, May 22, 2026, a more than $300 million CAD investment with the federal and Ontario governments at its Sault Ste. Marie Industrial Centre. The announcement, made alongside Canadian Minister of Industry, Mélanie Joly; Ontario Premier, Doug Ford; Ontario Minister of Economic Development, Vic Fedeli; Sault Ste. Marie Member of Parliament, Terry Sheehan; and Sault Ste. Marie Mayor, Matthew Shoemaker, marks another step in Tenaris's long-term commitment to Canada's manufacturing and energy sectors. The federal government's Strategic Response Fund and the provincial government's Invest Ontario Fund provided financial support to the investment. The plan will expand production, extend product range, and maximize productivity through the installation of new, state-of-the-art equipment. The improvement in material flows will impact each stage in the seamless and electric resistance welded (ERW) manufacturing processes, including hot rolling and stretch reduction, heat treatment, testing capabilities, and finishing. The new investment will also include an additional threading line for semi-premium and API connections. "In Canada, we know energy connects us. Tenaris steel pipes, manufactured in Ontario and delivered through our Rig Direct® service network to oil and gas operators across the country, enable Canadian energy sovereignty. With this more than $300 million CAD investment, on top of more than $350 million CAD invested since 2020, we illustrate Tenaris's steadfast commitment to Canadian manufacturing. Today's milestone builds on the momentum to expand Canada's domestic supply chain for OCTG and line pipe," said Martín Castro, President of Tenaris in Canada. These upgrades will strengthen steel pipe production in Ontario to meet growing demand for a reliable domestic supply of high performance OCTG covering the steel grade range required for Canada's oil and gas industry, especially shale, thermal, and offshore drilling applications. Expanded capacity for critical OCTG and improved line pipe grades are pertinent to Canada's energy superpower ambitions. "Canada's steel industry is a cornerstone of our economic strength and a driver of our industrial future. Our government remains firmly committed to supporting the steel sector in Sault Ste. Marie. At a time of rising tariffs and trade uncertainty, o...